For me, it depends on the profit I have made. If I HODLed for e.g. a few years and made a very big profit, I would choose to cash out and wait for the price to go down at a too high rate. Then, I would buy BTC from that price again and HODL it for a similar time period and observe the movements of the price.
For most of the investors, it doesn't depend on the amount of profits they have made, but their ability to wait for long. If you can afford to hold your coins for another 3-4 years, then that would be the best thing to do. With so many institutions entering the Bitcoin sector, the future potential looks very bright. But at the same time, if you have expenses to take care of and you are short of cash, then it won't be a bad idea to sell some of the coins right now.